![Terraform wallet moves M BTC as Do Kwon remains in legal limbo Terraform wallet moves M BTC as Do Kwon remains in legal limbo](https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMDkvMDE5MWI4OWUtY2Q1Zi03OGQ5LTljN2EtODRiMzgzZWE0MzQ1.jpg)
Terraform wallet moves $62M BTC as Do Kwon remains in legal limbo
Awaiting extradition to either the US or South Korea, Do Kwon could have had access to the Terraform Labs wallet containing more than 1,075 BTC.
A wallet reportedly associated with Terraform Labs and one of its co-founders, Do Kwon, has moved $62 million worth of Bitcoin to a different address.
According to data from blockchain analytics firm Arkham Intelligence, on Sept. 2, Terraform moved more than 1,075 Bitcoin (BTC) — roughly $62 million at the time of publication — from one of its wallets. It’s unclear if Kwon, currently awaiting extradition from Montenegro, was responsible for the transfer.
The Terra ecosystem collapsed in 2022, with authorities from the United States and South Korea filing charges against Kwon and some of his associates for their alleged role in the platform’s downfall. In 2023, Kwon was arrested in Montenegro on unrelated charges and sentenced to four months in prison.
Go to Source
Author: Turner Wright
Related posts:
- Coinbase acquires crypto wallet provider BRD’s team as utility token price surges 500%
- Breaking: Terraform Labs co-founder Do Kwon reportedly arrested in Montenegro
- Recovery firm proposes cracking former Ripple CTO’s $244M Bitcoin hard drive
- Montenegrin court delays Do Kwon’s extradition to South Korea